Prior to the apparent off-market sale, MedicalEdge essentially leased all the class B office space in the 9229 LBJ Freeway asset, which serves as the headquarters location for the provider of administrative and business support services for physician groups. Interviews about the trade weren't available prior to deadline, but the SEC filing and seller's website fill in most blanks.
The locally based Behringer Harvard fund bought the two-story building in late June 2004, getting a five-acre tract at the hard corner of LBJ Freeway and Greenville Avenue. The foothold is part a business corridor with nearby malls, shopping centers and restaurants, where the average office rate is $16.93 per sf based on a yearend report from Cushman & Wakefield of Texas Inc.
Northpoint I, which features an on-site deli, was built in 1978 and renovated in 2001. It was the former headquarters location for Texas Health Choice LLC, according to tax records. The new owner is a 28-year-old firm that services 350 providers in 10 medical specialties in the US.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.